On August 9, 2017, Bridgestone Corporation, a tire manufacturer from Japan, released its first-half 2017 operating report. Compared with the same period, net sales increased by 6%, and net profit rose by 7%. The company also stated that raw material costs are high and its operating profit has fallen by half. For the six-month period ended June 30, 2017, Bridgestone had sales of 1.7 trillion yen (approximately 102 billion yuan) and net profit of 131.8 billion yen. This compares with 1.6 trillion yen and 1233.3 billion yen in the same period last year. The company's operating income was 202.3 billion yen, a decrease of 7.3% compared to the first half of 2016. In the first half of 2017, global tire sales were 1.4 trillion yen (up 6.4%). In Japan, net tire sales in the first half of 2017 were 534.5 billion yen (up 2.8%). In the Americas, net tire sales were 86.33 billion yen (up 5%). Europe, Russia, the Middle East and Africa (EMEA) posted net sales of 270.9 billion yen (up 11%). Tire sales in China and the Asia Pacific region were 315.5 billion yen (down 0.4%). Although tire sales in the first half of the year increased by 6% year-on-year, operating income of the tire segment decreased by 7% to 185.1 billion yen. Bridgestone said it was mainly due to rising raw material costs. However, compared with the first half of 2016, sales of tires for passenger cars and light trucks in North America declined, and unit sales of truck and bus tires increased significantly. In the second half of 2017, Bridgestone expects that the sales of tire replacement tires for passenger vehicles in North America will remain stable, and sales of truck and bus tires will increase by 6% to 10% over the same period of the previous year.
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Bridgestone Sales Report